The first phase of Lakeside Logistics Industrial Park has officially been sold to CBRE Global Investors, a real estate assets investment management firm.
Foundry Commercial, a full-service real estate service and investment firm, and Ascentris, a real estate private equity firm, were the sellers. Phase I encompasses a 505,160-square-foot, newly constructed, Class A, cross-dock industrial building located on Henderson Way in Plant City. According to Foundry Commercial, “the facility features tilt-wall construction, 36’ minimum clear heights, ESFR fire protection, 2,000 AMP (3-phase) power, 303 car parking stalls, 185’ truck court depths with 60’ concrete aprons, LED interior and exterior lighting, and 50’ x 48’ column spacing.”
“Despite a pandemic, we pushed forward with the development of Lakeside Logistics, knowing demand continues to outpace supply in one of the most active industrial markets in the southeast,” Moses Salcido, SIOR, Principal of Development & Investments for Foundry Commercial, said. “We feel fortunate to have partnered with Ascentris and Lakeside’s land ownership in delivering a successful execution.”
This news came shortly after Foundry announced it had begun construction on Phase II at Lakeside Logistics, which will consist of two additional buildings totaling 414,000 square feet. Once complete, the two phases will comprise more than one million square feet.
Salcido told the Observer they hope to deliver the two buildings in the next 10 to 12 months and are aiming for an April/May 2022 timeframe for opening. Unlike Phase I, Phase II will feature two smaller buildings, which Salcido said will be perfect for tenants that are searching for decent sized buildings, but that don’t need a massive warehouse.
He added there are at least two more phases, potentially even three, planned for the Industrial Park.